Eli Lilly earnings hit by settlement

ELI Lilly said yesterday fourth-quarter earnings fell, hurt by a charge for a settlement with users of its Zyprexa schizophrenia drug, and the company forecast 2007 earnings at the low end of Wall Street estimates.

The Indianapolis-based drugmaker said it earned $132 million, (€101m) or 12 cents per share, compared with $701m, or 64 cents per share, in the year-earlier period.

Revenue rose 9% to $4.25 billion (€2.53bn) in the quarter, fuelled by higher sales of its Cymbalta depression treatment and higher Zyprexa sales.